Markets

Tesla’s CEO Elon Musk could receive a $30 billion stock grant, reigniting debate about his compensation. A Tesla engineer, Tsai, defended the award on X, noting Musk’s eight years without a salary, consistent work attendance, and leadership through crucial milestones. Tsai also humorously pointed out that his own salary once surpassed Musk’s. He emphasized Musk’s passion and commitment as a team motivator, hoping he receives his first paycheck after years of dedication. The stock package aims to align Musk’s interests with long-term shareholder value and ambitious growth targets.

South Korea’s minimum hourly wage will rise to ₩10,320 ($7.80 USD) in 2026, a 2.9% increase. The minimum monthly wage will be ₩2,156,880 ($1,630 USD). Despite this, high living costs, especially for food items like watermelons (averaging $25 USD) and napa cabbage (up 68% monthly), significantly impact purchasing power. Many low-income Seoul residents struggle to save, and the middle class faces similar challenges compared to some Chinese workers. This illustrates the tension between wage growth and rising expenses.

Grupo Aeroportuario del Pacifico (GAP) reported a 3.1% increase in total passenger traffic for July 2025, reaching 5.8 million. Mexican airports saw domestic traffic rise by 4.0% and international traffic by 1.9%. Montego Bay showed strong growth (15.2%), while Tijuana declined (3.1%). Available seats increased by 6.0%, but load factors decreased to 84.8%. GAP launched new routes, expanding connectivity for Morelia airport. Tijuana’s CBX border crossing users decreased significantly.

Emerging comedian Fang Zhuren’s “Headline Show” tour faces high scalper activity due to massive ticket demand. Originally priced at 80 yuan, tickets are being resold for over 1000 yuan. Fang Zhuren emotionally appealed to fans on social media, urging them not to buy overpriced tickets and promising to add more shows. She emphasizes accessibility and discourages fans from financial strain to see her perform, highlighting her relatable comedic style developed since “Comedy King: Stand-up.”

Gree’s Chairwoman Dong Mingzhu described the home appliance industry as relentlessly “cutthroat,” driven by price competition rather than technological advancement. She stressed the importance of genuine dedication and quality, advising manufacturers to focus on creating energy-efficient, comfortable, and health-conscious products. Dong emphasized that manufacturers should avoid deceiving consumers with cheap, low-quality goods, as this ultimately erodes customer trust and respect. She believes maintaining high quality standards will ultimately be recognized by consumers.

SenesTech, Inc. (SNES), a biotech company specializing in fertility control for pest management, announced the closing of a warrant exercise generating $6.3 million. The company issued new short-term warrants priced at $0.125, potentially yielding an additional $11.5 million if fully exercised. SenesTech intends to use the net proceeds for working capital and general corporate initiatives. Their flagship product, ContraPest®, is a registered contraceptive for rats, aiming for humane and ecologically-sound pest control.

Steel Partners Holdings L.P. (SPLP) announced a regular cash dividend of $0.375 per unit for its 6% Series A Preferred Units, payable on September 15, 2025, to unitholders of record as of September 1, 2025. Future dividend declarations, form, will be at the board’s discretion, based on performance, cash flow, financial health, and capital allocation needs. Steel Partners, a diversified holding company, cautions that forward-looking statements are subject to uncertainty and are valid only as of the announcement date.

Quantum Corporation (QMCO) is expanding its distribution network in China, India, and ASEAN to capitalize on the burgeoning demand for data protection and management solutions driven by AI and unstructured data. The company has established exclusive agreements with ChangHong IT, Rashi Peripherals Limited, Hibino Graphics Corporation, and ACA Pacific to enhance local service, delivery, and technical support. This strategic move aims to broaden market coverage and strengthen customer experience in these key data-centric markets. The new channel model is effective immediately.

The 9th annual Nevada Youth Homelessness Summit, hosted by NPHY and Las Vegas Sands, will be held on November 14th in Las Vegas. Registration opens August 11th. The summit aims to create Nevada’s first standalone plan to end youth homelessness, building upon the 2018 Southern Nevada plan. With Clark County experiencing a 34% youth homelessness increase, the summit will launch the statewide Youth Experiencing Homelessness Study and gather stakeholders to develop sustainable strategies, amplifying youth voices.

The Shanghai Stock Exchange (SSE) warned about 上纬新材 (688585.SS) stock volatility, echoing the company’s own risk advisories. The SSE suspended some investor accounts for “abnormal trading.” 上纬新材’s stock surged 1300% in a month, prompting concerns. The company might request a trading halt, citing no material business changes despite the price surge. They acknowledge declining profits and a high P/E ratio, advising investor caution as the stock price deviates from its intrinsic value.